On Friday, Yes Bank announced that it would raise $1.1 billion (Rs 8,900 crore) from an affiliate fund of private equity investors Carlyle and Advent International, each holding up to 10% of the bank.

The funds will be raised through equity investments of $640 million (Rs 5,100 crore) and equity investments of $475 million (Rs 3,800 crore).

The financing is still subject to shareholder approval and relevant regulatory approvals at an extraordinary general meeting on August 24.

The bank proposed to issue 370 shares at a preferential price of Rs 13.78 per share and 257 crore convertible warrants at Rs 14.82 per share, adding Rs 8,900 crore to the capital base.